Intchains Group Limited Unsponsored ADR (NASDAQ:ICG – Get Free Report) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 105,455 shares, a growth of 315.0% from the July 15th total of 25,408 shares. Based on an average daily volume of 43,675 shares, the days-to-cover ratio is currently 2.4 days. Approximately 0.2% of the company’s stock are short sold.
Intchains Group Trading Down 2.0%
Shares of ICG stock traded down $0.02 on Friday, reaching $0.86. The company’s stock had a trading volume of 6,901 shares, compared to its average volume of 192,824. The stock’s fifty day simple moving average is $0.80 and its 200-day simple moving average is $1.14. Intchains Group has a 1 year low of $0.60 and a 1 year high of $2.28. The company has a market capitalization of $52.21 million, a price-to-earnings ratio of -7.17 and a beta of 1.05.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Intchains Group in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Intchains Group has a consensus rating of “Hold” and an average target price of $3.00.
Institutional Investors Weigh In On Intchains Group
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in Intchains Group during the first quarter valued at about $142,000. Independent Advisor Alliance acquired a new position in Intchains Group during the 4th quarter valued at approximately $37,000. Goldman Sachs Group Inc. raised its holdings in shares of Intchains Group by 509.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 100,759 shares of the company’s stock worth $180,000 after buying an additional 84,228 shares during the last quarter. SmartHarvest Portfolios LLC acquired a new stake in shares of Intchains Group during the fourth quarter worth about $121,000. Finally, XTX Topco Ltd boosted its holdings in Intchains Group by 190.2% in the fourth quarter. XTX Topco Ltd now owns 75,354 shares of the company’s stock valued at $135,000 after purchasing an additional 49,389 shares during the last quarter.
Intchains Group Company Profile
Intchains Group Ltd (NASDAQ: ICG) is a technology company specializing in blockchain-based big data solutions. The company offers a suite of products and services aimed at enhancing data security, traceability and certification across diverse industries. Its core offerings include blockchain-powered data rights management, digital certificate issuance, supply-chain traceability platforms and analytics tools that leverage immutable ledgers to ensure data integrity.
Established in 2016 and headquartered in Beijing, Intchains Group serves a range of clients including government agencies, logistics providers, manufacturers and financial institutions.
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